David Ritter, Managing Director at Alvarez & Marsal, shares his take on the current state of retail and the importance of transforming to stay relevant. 

Key Takeaways: 

1. Cash is king - retailers are taking great strides to get expenses in order. What are you doing to reduce costs and where are you doubling down?

2. Scheduling will play a larger part in retail strategy as companies align needs in store with the appropriate labor. 

3. Agile methods are more prominent since stores can't wait 6-12 months to drop new products or services. 

4. Using data for greater personalization is paramount to standard segmentation. 

5. Capitalizing on the talent pool that is currently available will pay dividends as stores evolve and emerge with a digital focus.